HSBC plans six-year growth notes tied to iShares MSCI Emerging Markets

By Toni Weeks

San Luis Obispo, Calif., Dec. 4 - HSBC USA Inc. plans to price 0% growth notes due Dec. 30, 2019 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 115% to 120% of any increase in the exchange-traded fund's share price, with the exact participation rate to be set at pricing. Investors will receive par if the share price declines by 25% or less and will lose 1% for every 1% that it declines beyond 25%.

The notes (Cusip: 40432XPQ8) are expected to price Dec. 20 and settle Dec. 30.

HSBC Securities (USA) Inc. is the agent.

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